The China Development Bank is now the financier for the $22.7bn Kaduna – Kano Rail Project in North Western Nigeria. The project was initially meant to be funded by the China Exim Bank which later rescinded its decision to provide the funds. But the Senate in its resolution on Tuesday approved the engagement…
Electric carmaker Tesla has been directed by the court to pay almost $3.2m (£2.6m) to a black ex-employee after he won a racial harassment lawsuit. Owen Diaz, who worked as a lift operator from 2015 to 2016 at its Fremont factory, was found to have been subjected to a racially hostile work environment. However, the…
The UK’s data watchdog, the Information Commissioner’s Office (ICO), has fined TikTok £12.7m for failing to protect the privacy of children under the age of 13. The investigation found that the video-sharing site allowed up to 1.4 million UK children under the age of 13 to use the platform without parental consent, which violated its…
Brent crude oil prices surged above $84 a barrel on Monday, rising more than 5% in response to an unexpected announcement from OPEC+ oil producers that they would be cutting output by more than one million barrels of oil per day. This move was made by Saudi Arabia, Iraq, and several Gulf states, and was…
Brighter Futures programme, an initiative supported by the UK government, has launched the Thrive Online campaign, as part of efforts to curb the rising tide of cyber-related crimes in Nigeria. The initiative also launched the Cancel Cultist campaign aimed at reducing cultism and other forms of serious organized crime in Nigeria. The Thrive…
The Federal Government of Nigeria has granted contracts worth N24.20 billion to provide free internet broadband services in 75 public places, including 20 airports, universities, and markets throughout the country. Professor Isa Ali Pantami, the Minister of Communications and Digital Economy, announced this after the federal executive council meeting chaired by President Muhammadu Buhari at…
Twitter has reported that sections of its proprietary code were leaked online, and were exposed until the company had the material removed from the web. The company then filed for a court order to track down the source of the leak. Twitter’s source code is the programming that powers its platform and internal tools. The…
A “mega-strike” by two major transport unions in Germany is causing major disruptions across the country’s airports, public transport, and its largest port. Long-distance rail services and early morning regional and commuter rail services have been suspended across Germany. More than 400,000 transport workers are participating in the strike, demanding a 10.5% pay raise due…
Bancassurance major growth driver for Cambodian insurance – regulator Bancassurance is playing a key role in driving the growth of the Cambodian insurance market as it accounted for 40% of total sales in 2022, according to Insurance Regulation of Cambodia (IRC) director general Bou Chanphirou. The sector’s gross insurance premium reached more than $330…
IMF Managing Director Kristalina Georgieva delivered a speech at the China Development Forum in Beijing, calling for greater vigilance over the global financial system. She highlighted the increased risks to financial stability, citing the recent banking crisis, and the need for continued collaboration among major central banks to ease market stress. While acknowledging the uncertainty…
